Information technology, specifically the Internet, has significantly changed the way people exchange information and participate in business transactions. The advent of electronic commerce (e-commerce) has allowed for business models whose definition and scope are unattainable in traditional markets. Furthermore, these electronic markets are still growing at a phenomenal rate. Of all business models that have been impacted by the Internet, online auctions and business-tobusiness (B2B) reverse auction exchanges have had some of the largest impact.